1)please explain how to solve this step by step , 2) why is why is knowing this information important ?

Your answer is correct. On January 6, Novak Corp.sells merchandise on account to Harley Inc. for $7.200, terms 2/10, 1/30. On January 16, Harley pays the amount due. Prepare the entries on Novak Corp's books to record the sale and related collection (Omit cost of goods sold entries.) Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 6 Accounts Receivable Sales Revenue 7200 Jan 16 | Sales Discounts